J.P. Morgan cuts Triumph Group's rating on risk from Boeing strike

Triumph

14/10/2024 11:50

** J.P. Morgan lowers rating of aircraft parts manufacturer
Triumph Group  TGI.N  to "underweight" from "neutral", cuts PT
to $12 from $15
    ** "Triumph has high exposure to the strike at Boeing  BA.N 
and remains in a challenged financial position." - JPM
    ** Brokerage also views TGI's potential sale as unlikely in
near term, citing instance of no buyer emerging when co was up
for sale earlier
    ** Three brokerages rate the stock "buy" or higher, four
"hold", and one "sell"; their median PT is $14 - LSEG data
    ** As of last close, stock had fallen 9.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))